Importing K-1 info

Forum|Forum|3 years ago
February 27, 2023
1 reply
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I exported my K-1 information from my two Master Limited Partnerships. Now, how do I populate my TurboTax return with the numbers from my K-1?

Mike9241

from the file link

import

from accounting software

select other financial software (TXF file)

then the click blue continue link

select the item

import now

WARNING Carefully check the actual K-1 against what was imported. I found year after year certain items

don't transfer completely and need some manual input

line 11 codes A,B, I

line 13, codes J, R, W

line 15 codes E, F, G, M, P

k-3 - may not be included as part of the k-1 package and may not be applicable in your situation

line 20 codes D, L, E T, AH, certain reporting is not even applicable to many taxpayers

certain lines Turbotax can not handle. noted with an * - not provided for in the program manually enter on the appropriate form.

wjexchangeAuthor

Thanks. Reply was very helpful. I was really disappointed with Turbotax's handling of K-1 forms for 2022 tax year. 2021 was seamless. I did import the txf files, but really none of the data transferred; only the basic company information. I have used TT continually since 1995 but they seem to have taken a step backwards.